You’d think the opposite, but selling a house around the holidays is not a bad thing. Most people believe spring is the best time to sell – there are more bidding wars, but also more competition. Wintertime has its advantages and disadvantages too, but around the holidays, the market often comes alive.
If you position your property the right way, market it effectively, and prepare for buyers, you can close fast, maybe in time for the holidays or even the New Year. But why would you want to sell around the holidays? Maybe you can’t wait – relocation, growing family, downsizing, ending forbearance, etc.
Here are five reasons why the holidays are a good time to sell.
1. Buyers are Serious
A lot of buyers in the springtime like to look at houses but are in no rush to purchase. Anyone who shops the market between Thanksgiving and New Year’s is no doubt serious. Think about it: winter holidays are when we plan festivities, visit family, and shop for presents. If a person takes time away from those things to look at a property, chances are they’re ready to buy.
2. Housing Inventory is Low
Since most sellers aim for spring, there is less competition in your market around the winter holidays. Fewer houses for sale increases your chances of buyer interest and getting offers.
Price wars may break out in your neighborhood. So long as the price is right, and you have a lot of potential buyers, your property may only sit on the market for a few weeks, maybe even a few days.
3. End-of-Year Tax Breaks
Tax breaks are one of several reasons buyers are serious towards the end of the year. If a house sale closes on or by December 31, the buyer can deduct mortgage interest, property taxes, and interest costs (of the loan).
Can a home seller get a tax break? Yes, but only if you owned and lived in the house for 2 of the 5 years before sale.
4. More Attention from Realtors
With fewer house listings to be concerned with, your realtor, if you have one, can focus more on your property. They are available for more showings, appointments, and negotiating deals.
The holidays are a busy time for everyone, so hiring a real estate agent may take some of the stress off of you. Otherwise, if you do not want to pay commission, you can sell For Sale By Owner (FSBO).
5. Festive Time of Year
Believe it or not, the holidays spark warm feelings in buyers. They visit a house that is staged for comfy, homey vibes, appealing to their emotions. So they are more likely to fall in love with the feelings the house conjures and make an offer.
In contrast, during the spring, there’s a lot of foot traffic and distractions, and buyers cannot focus during a walkthrough.
Want a Guaranteed Sale By or Before Christmas / New Year’s?
Sometimes you cannot wait for a traditional buyer. You have your reasons to sell now, before the end of the year, and you cannot afford to wait. If that is the case, consider selling to a real estate investor for cash.
Most investors make a cash offer on a property “as-is,” without repairs or renovations. Even if the property is damaged, vacant, or mid-renovation, they will still buy it. They do not require traditional sale warranties, an appraisal or inspection, and since they pay with cash, there’s no lengthy mortgage approval process.
You (the seller) choose the closing date. It can be in several months, giving you time to pack and enjoy the holidays, or in 30 days or less, if you’re ready to move right now.